LONDON (Reuters) – British online fashion retailer Boohoo on Wednesday cut its full-year outlook, blaming a worsening macro-economic and consumer backdrop as it reported a 58% fall in first-half core earnings.
The group, whose shares have fallen 70% this year, said on Wednesday it now expected revenue to fall over the full 2022-23 year, with a core earnings margin between 3% and 5%. It was previously forecasting “low single digits” revenue growth and an EBITDA margin of between 4% and 7%.
(Reporting by James Davey; Editing by Kate Holton)
